Royal Fund Management LLC Acquires 348 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Royal Fund Management LLC raised its holdings in Analog Devices, Inc. (NASDAQ:ADI) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,822 shares of the semiconductor company’s stock after acquiring an additional 348 shares during the quarter. Royal Fund Management LLC’s holdings in Analog Devices were worth $1,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADI. Pinnacle Bancorp Inc. boosted its position in shares of Analog Devices by 101.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 129 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 65 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in shares of Analog Devices during the fourth quarter worth $29,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Analog Devices during the fourth quarter worth $32,000. Northwest Capital Management Inc raised its holdings in shares of Analog Devices by 519.2% during the fourth quarter. Northwest Capital Management Inc now owns 161 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 135 shares during the period. Finally, Silver Oak Securities Incorporated acquired a new stake in Analog Devices in the 3rd quarter valued at $29,000. 86.81% of the stock is owned by institutional investors.

Analog Devices Trading Up 1.6 %

NASDAQ:ADI traded up $3.14 during midday trading on Friday, reaching $199.63. 2,372,862 shares of the stock traded hands, compared to its average volume of 3,339,473. The company has a fifty day moving average of $194.27 and a 200 day moving average of $188.15. Analog Devices, Inc. has a 12 month low of $154.99 and a 12 month high of $204.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.98 and a current ratio of 1.51. The stock has a market capitalization of $99.00 billion, a P/E ratio of 35.71, a PEG ratio of 4.93 and a beta of 1.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings data on Wednesday, February 21st. The semiconductor company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.02. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.50 billion. Analog Devices had a net margin of 24.34% and a return on equity of 12.76%. The company’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.75 EPS. On average, research analysts predict that Analog Devices, Inc. will post 5.86 EPS for the current year.

Analog Devices Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, March 5th were given a $0.92 dividend. The ex-dividend date was Monday, March 4th. This is an increase from Analog Devices’s previous quarterly dividend of $0.86. This represents a $3.68 dividend on an annualized basis and a dividend yield of 1.84%. Analog Devices’s dividend payout ratio is currently 65.83%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price target on shares of Analog Devices in a research note on Thursday, February 22nd. Truist Financial lowered their price target on shares of Analog Devices from $226.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on shares of Analog Devices from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Analog Devices from a “peer perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Thursday, January 18th. Finally, Evercore ISI started coverage on shares of Analog Devices in a research note on Tuesday, April 16th. They set an “outperform” rating and a $254.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Analog Devices has a consensus rating of “Moderate Buy” and an average target price of $208.17.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the sale, the chief executive officer now directly owns 51,039 shares of the company’s stock, valued at approximately $10,057,745.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $197.06, for a total value of $1,970,600.00. Following the transaction, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,057,745.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vivek Jain sold 3,479 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now owns 5,745 shares in the company, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. Insiders have sold 24,707 shares of company stock valued at $4,874,613 in the last three months. 0.31% of the stock is currently owned by company insiders.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.